Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. what does it mean by the matching principle in acc

What does it mean by the matching principle in accounting? ...

60.1K

Verified Solution

Question

Finance

What does it mean by the matching principle in accounting?

Expense are matched with generation of revenues to determine net income for an accounting period.

Generation of revenue are matched with expenses to determine net income for the previous period.

Generation of revenue are matched with assets purchases to determine the efficiency of the asset usage.

Expenses are matched with asset purchases to determine the return on investment.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Compare and contrast SDS-PAGE and Native-PAGE. Discuss the chemical and mechanistic similarities and differences between the two....

Mechanical Engineering
1.2K views

The outer and inner boundaires of prandtl stress potential functions have what restrictions

Statistics
1.2K views

In what ways do advertisers in magazines use sexual imagery to appeal to youth? One study...

Basic Math
1.2K views

height m 5 42 4 45 4 53 4 29 3 96 5 42 5...

Calculus
1.2K views

Find where x 2x 0 Write your answer in interval notation Round to one decimal...

Algebra
1.2K views

Practice 1 If y 12x 10 what is the value of y when x is...

Accounting
1.2K views

1. Use the accounting equotion to compute the missing financial statement amounts. 2. Use the...

Accounting
1.2K views

QUESTION 4 Which of the following sources decrease stockholders' equity? O treasury stock O retained...

Accounting
1.2K views

Appendix 2 EX 4-30 Adjusting and reversing entries On the basis of the following data,...

Accounting
1.2K views

Required information (The following information applies to the questions displayed below.) Forten Company's current year...

Accounting
1.2K views

During June, Buttrey Corporation incurred $74,000 of direct labor costs and $14,000 of indirect labor...

Accounting
1.2K views

please complete Required information [The...